Leading edge: David Fisher

The chief executive of Sainsbury’s Finance offers his view from the top and explains how he has toned down his gung-ho style over the years

David Fisher looks for senior staff to bring something new to the table (Steve Lindridge)
David Fisher became chief executive of Sainsbury’s Finance, owned by J
Sainsbury and Lloyds Banking Group, in January. Fisher went to Kirkham
Grammar School in Preston, Lancashire, but decided against going on to
university. He became an energy cost analyst before taking an MBA at
Strathclyde University in 1984 and joining Hay, the pay consultancy. Fisher
moved to Halifax in 1990 and rose to group human resources director at HBOS
before taking the same role at Lloyds. Fisher, 52, is a non-executive
director of the Scottish government. He spoke to Andrew Lynch.

When did you first become a boss and how did it feel?

It was an easy transition. I learnt on the job — and by watching good and bad
practice.

What have you learnt about leadership and how has your style evolved?

I used to be a bit of a blunt instrument. One of my bosses said: “The problem
with you, David, is that you have to crash the door down, chuck in a stun
grenade and go in with all guns blazing. There are different ways to get
things done.” I listened to him. I try to understand where people are coming
from, and build consensus and coalitions.

The key thing is to pick your battles. It’s more about understanding what is
important for your business, for your people or your customers.

Have you been inspired by any one person or theory in the way you manage?

I have been a bit of a magpie. Over the past 30 years I have had some good
bosses and some shockers. I have tried to learn from both.

I have got two or three models in my head based on theories. One is the
“service- profit chain”, the Harvard model which says if you have
well-trained, well-motivated colleagues providing great products and
services, that should lead to customers delighted with what you are doing.

Another is the “balanced scorecard”. Simply looking at the financials of your
business is like driving a car through the rear-view mirror. It tells you
where you have come from, it doesn’t necessarily say where you are going.
Have an idea of the leading indicators of your business.

What’s the worst part of managing — and the best?

The worst part is people playing games, because I am long enough in the tooth
to be able to spot that. That does annoy me.

It sounds a bit hackneyed but the best is seeing people grow and do things
that are the result of your support or coaching.

What do you look for in hiring senior staff?

I take technical knowledge as a given. I don’t think you should have a team
that is a group of clones but there does need to be a fit. Do their
underlying values and philosophy of life fit with the ethos of the bank and
what we are trying to do? Are they going to bring something that we don’t
already have?

Is there one question you want answered in job interviews?

One of my bosses used to ask: “When you are putting a team together, what is
the skill set that you know you need to have in that team to complement your
own?” That’s a sneaky way of saying what are your areas of weakness?